Buy Lanco Infratech, says Sukhani

Buy Lanco Infratech, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "After having being downbeat and bearish on Lanco Infratech for long, this stock is now bottoming out. The process suggests that it falls, it rallies and it falls again but holds on to support. The stocks that have fallen so much are holding on to support and should be considered for buying."
He further added, "The entire infrastructure group is doing that. It seems yesterday Lanco had a narrow range, apparently it’s been in a very tight range for the last six-seven days and a breakout is imminent. The breakout could come on the downside but its very unlikely that these stocks at current levels will further breakdown on the downside. So this tight range should get resolved on the upside. This is a good time to buy. Today maybe the day when it breaks out or maybe tomorrow but one should be positioned on the long side."